433,980 Shares in Lumentum Holdings Inc. $LITE Bought by Nuveen LLC

Nuveen LLC bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 433,980 shares of the technology company’s stock, valued at approximately $27,054,000. Nuveen LLC owned 0.63% of Lumentum as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Lumentum by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company’s stock valued at $463,198,000 after purchasing an additional 47,811 shares during the last quarter. Capital World Investors boosted its holdings in shares of Lumentum by 108.3% during the 4th quarter. Capital World Investors now owns 3,600,132 shares of the technology company’s stock valued at $302,231,000 after purchasing an additional 1,871,572 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Lumentum by 98.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company’s stock valued at $103,122,000 after purchasing an additional 610,938 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Lumentum by 8.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 838,289 shares of the technology company’s stock valued at $70,374,000 after purchasing an additional 62,937 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Lumentum by 18.5% during the 4th quarter. Northern Trust Corp now owns 700,893 shares of the technology company’s stock valued at $58,840,000 after purchasing an additional 109,430 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on LITE shares. JPMorgan Chase & Co. increased their price objective on shares of Lumentum from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday. B. Riley increased their price objective on shares of Lumentum from $73.00 to $83.00 and gave the company a “neutral” rating in a report on Wednesday, August 13th. Barclays increased their price objective on shares of Lumentum from $75.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday. Susquehanna increased their price objective on shares of Lumentum from $125.00 to $140.00 and gave the company a “positive” rating in a report on Tuesday, August 12th. Finally, Morgan Stanley increased their price objective on shares of Lumentum from $92.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, August 13th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Lumentum currently has an average rating of “Moderate Buy” and a consensus price target of $124.00.

Insider Activity

In other news, insider Yuen Wupen sold 241 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $108.34, for a total transaction of $26,109.94. Following the transaction, the insider directly owned 78,597 shares of the company’s stock, valued at approximately $8,515,198.98. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vincent Retort sold 22,719 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $110.00, for a total transaction of $2,499,090.00. Following the transaction, the insider directly owned 121,747 shares in the company, valued at approximately $13,392,170. This trade represents a 15.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,711 shares of company stock valued at $7,238,980. Company insiders own 0.19% of the company’s stock.

Lumentum Stock Up 1.1%

Shares of NASDAQ:LITE opened at $115.86 on Monday. The company has a current ratio of 4.37, a quick ratio of 3.18 and a debt-to-equity ratio of 2.26. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $129.98. The company has a 50-day moving average price of $98.59 and a 200 day moving average price of $78.82. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 503.74 and a beta of 1.33.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, August 12th. The technology company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. The company had revenue of $480.70 million for the quarter, compared to analyst estimates of $465.27 million. During the same period in the prior year, the company posted $0.06 EPS. The firm’s revenue for the quarter was up 55.9% on a year-over-year basis. As a group, equities research analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.